Treasury Committee calls for enlarged FPC

By

Kit Chellel

Updated: June 7, 2011 10:14 pm GMT

The Treasury Select Committee has recommended the Bank of England's new Financial Policy Committee be enlarged to include an additional external member. The committee approved the appointment of former Deutsche Bank executive Michael Cohrs and Bank of England and HM Treasury alumni Alastair Clark at a hearing today, but recommended another external member be appointed. The committee said in a statement that Clark's experience at the Bank of England and Treasury meant "it is difficult not to regard him as an 'insider'", and that the FPC needed to ensure "the intended representation of wider views". The...